Lettings Agents

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Tuesday 9 April 2002 2.14pm
I'm thinking about renting out my flat due to a likely need to move from the area but wanted some feedback on experiences / recommendations when it comes to lettings / estate agencies.

My impression is that they seem to do very little for commission of upto 15%!? Has anyone rented out / found tenants from other means (e.g. work / loot / other options!?).
Friday 12 April 2002 4.26pm
Dave, a friend of mine is looking for a place at the moment. Can you email me details if you are interested in renting it out and managing it privately?

A colleague has had bad experiences with letting agencies, they really do very little for their comission. I think it's best to manage it yourself if you have the time. If you do go with an agent, make sure you get all the charges clearly defined as they do like to sting you for admin and other misc charges.
Thursday 18 April 2002 11.23am

As tizzy says it can be best to do it youself. but there are a number of things to consider

how far away are you moving? would you be able to run it yourself? what is your tak position like, the 15% could be a useful tax deduction but you would need to take advice on that. if not i have found hastings the most professional agency. i have managed properties myself and used agents. if you do use an agent be sure to negotiat on comission you should be able to get down to 12 or 13 % for full management .

there is a company called easy let on the web which will send you a disk for renting out yourself with all the relevant forms notices letters contracts and information that you need to be able to let out a place yoursel it is about 20 and well worth it. i am looking at setting up a personal service agenct in the near future at less than the traditional agencies but with genuine service and value for money will let you knoew when i do!

Tuesday 23 April 2002 1.34pm
I have let two of my own properties through an agent in borough high street (oliver jaques) I have found them very helpful and do work hard for there fees.
Tuesday 23 April 2002 2.08pm
To say that we do very little for the charges is a misconception as the fact that we are even open is expensive, we have to rent shop space in prominent places such as high streets and shopping centers in order to get noticed, we accompany all our viewings, usually in a nice car and we have to advertise our properties in london publications that are again expensive, we have to have web sites designed and installed as well as expensive phone systems, security systems, good staff are also expensive.
Letting a property without professional help is a mine field, I know of one man who was held up at gunppoint after advertising his property privately.
With regard to Kegan, well done on the caring front but I think you will be very surprised at the expense of running a business like the one you say, consumables alone run into thousands of pounds per year. Thats after international phone calls to mobiles, you also have to be very aware of the law regarding letting, it is not simple.
Agents who are bad go out of business very quickly, so good luck with fees and the gunmen.

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